The Complete Financial Statement Analysis Course

Financial ratio and financial statement analysis tools for value investors! Includes case studies w/ excel examples.

Created byAndrew P.C.

Last updated 10/2017

English

What you'll learn

Understand the mechanics of financial statements (balance sheet, income statement, and statement of cash flow).
Understand key earnings ratios including earnings-per-share (EPS).
Calculate profitability metrics and how to properly analyze them.
Calculate activity and turnover ratios.
Understand the components of return on assets and return on equity.
Understand the key ratios used to evaluate liquidity, solvency, and leverage.
Use key valuation metrics (P/E, EV/EBITDA, P/B, P/S, etc) to determine how cheap or expensive a stock is.
Understand the key financial filings US companies file with the Securities and Exchange Commission (SEC).
Navigate through financial statements like the back of your hand.
Understand how to read 10-K/10-Q filings and what sections to watch out for.
Interpret and understand audit opinions.
How to read 8-K filings and learn how to search for important information.
Read and analyze Proxy Statements and Form 4 filings.
Understand how to interpret and analyze quarterly results.
Evaluate company guidance.
Know the importance of non-GAAP results and metrics.
Understand importance of Conference Calls and related presentations.
Understand and calculate various key performance indicators for a number of industries.
Navigate the SEC EDGAR database to search for filings and other information.
Perform financial statement analysis.
Understand where to look to dig up information about a company.

Course content

6 sections • 37 lectures • 3h 2m total length

Introduction2:21
An introduction to the course. We will discuss the important topics the course will cover.

The Importance of the Balance Sheet7:18
An introduction to the financial statements. We will learn what information is contained in the Balance Sheet, how it is prepared, and how accounts are classified. We will also take a look at Costco's Balance Sheet as a case study.
Reading Income Statements6:37
An introduction to the Income Statement. We will learn how information is classified and presented on the Income Statement. We will also review Costco's Income Statement as a case study.
Analyzing The Statement of Cash Flows7:49
We will learn how the Statement of Cash Flows is presented and why cash transactions are categorized into certain groups. Finally, we'll take a look at Costco's Statement of Cash Flows.

Calculating and Evaluating Earnings-Per-Share (EPS)3:09
Evaluating a Company's share count is key in financial analysis. We will learn the difference between basic and diluted shares. After that, we will understand how to calculate a Company's earnings on a per-share basis (EPS).
Calculating Profitability Metrics (Part 1)4:21
We will go over the key profitability metrics used to analyze a business. We will understand how to compare and analyze changes in profitability.
Calculating Profitability Metrics: Costco Case Study (Part 2)3:17
To further our understanding of profitability analysis, we go through a Costco excel case study.
Calculating Activity/Turnover Ratios4:57
We will learn how to use activity/turnover analysis to assess how well a business is using its assets.
Calculating Activity/Turnover Ratios: Costco Case Study3:41
An excel case study outlining the activity/turnover metrics we learned in the prior lecture video.
Return on Assets3:55
An excel case study on the return on assets (ROA) metric. We will understand how to evaluate the returns a Company's assets generate.
Return on Equity5:27
An excel case study on return on equity (ROE). We will understand how to evaluate the returns a Company generates with its equity.
Liquidity and Leverage Analysis5:38
We will learn how to evaluate a Company's liquidity to determine the risk of a cash shortfall or bankruptcy.

Further, we will go over the most popular leverage ratios to assess bankruptcy risk.
Valuation Ratios and Metrics (Part 1)3:40
Learn the most popular metrics used to value Companies. You will learn to evaluate how cheap or expensive a business is based on a number of metrics.
Valuation Ratios and Metrics (Part 2)3:28
Quiz

Reading and Analyzing the 10-K Part 17:37
A comprehensive overview of the key filings public U.S. companies file with the SEC. Our discussion will start off with the Company's annual report filed with the SEC (Form 10-K). We will discuss why the 10-K is important reading material and what information to look out for. We will also discuss some effective 10-K reading tips. Finally, the lecture will include various case study walk-throughs.
Reading and Analyzing the 10-K Part 26:38
Reading and Analyzing the 10-K Part 34:36
Reading and Analyzing the 10-K Part 45:26
Reading and Analyzing the 10-K Part 54:00
Reading and Analyzing the 10-K Part 65:15
Reading and Analyzing the 10-K Part 77:21
Reading and Analyzing the 10-K Part 84:54
Reading and Analyzing the 10-Q4:30
We will review what important information is included in a Company's quarterly report with the SEC (Form 10-Q).
How to Read and Understand Current Reports (8-K)4:51
Learn how and why Companies disclose key information through the current report (Form 8-K).

We will go over several tips and tricks to extract key information that many do not know from the 8-K filings. The lecture will include plenty of real life examples from Costco.
How To Read and Dig Through the Proxy Statement (DEF-14A)5:29
Learn what information is included in the Company's Proxy Statement (Form DEF-14A) and how to properly read this document.
Analysis of Costco's Proxy Statement5:00
A continuation of our last Proxy Statement lecture video. We will take a look at Costco's Proxy Statement and discuss the key components.
How to Read and Interpret Form 4s3:48
We will learn about the importance of Form 4 filings and how to read them.
Form 4 Case Studies4:12
This is a continuation of our Form 4 series. We will go through several case studies and look through/read Form 4 documents together.
Quiz

How to Analyze Quarterly Results Part 15:17
We will learn the importance of quarterly results, including what key information to watch out for.

We will discuss:

How to evaluate earnings surprises

How to interpret Company-provided guidance metrics

How to evaluate guidance surprises

The important of non-GAAP metrics
How to Analyze Quarterly Results Part 24:12
A look at several quarterly results filings by different companies.
Overview of Conference Calls2:42
Learn how Earnings Conference Calls are structured and how to extract key information from them.
Key Performance Indicators You Need to Know Part 14:28
Learn about key performance indicators for various industries. These are important metrics to know for any investor and financial analyst.
Key Performance Indicators You Need to Know Part 23:11

Requirements

Absolutely NO experience/understanding of financial statements or accounting is required. We will start from the basics towards more advanced topics.
You will need a notebook and pen/pencil.

Description

Ever wonder how the world’s most successful investors (such as Warren Buffett, David Einhorn, or Jim Chanos) are so successful? It’s because they employ industry leading financial statement analysis skills to root out opportunities.

A lot of courses simply teach you how to perform a few financial ratios. That’s important, but it is only a small part of successful financial statement analysis. True financial statement analysis requires in-depth reading, research, and other analytical strategies that will give you a real investing edge.

I will teach you the tricks of the trade that many successful investors use on a daily basis. By the end of this course you will learn how to read and analyze a company’s SEC filings like a pro!

If you want to be a successful Financial Analyst, Investor, Investor Relations Manager, Private Equity Analyst, Investment Banker, Hedge Fund Analyst, or Sell Side Research Analyst, then this course will is perfect for you!

3 BIG reasons why you should take this course:

Great future: There is always a need for financial analysts to perform research.

Big money: A financial analyst role typically leads to a high paying career ($100,000+).

Manage your own investments: Achieve long-term wealth by managing your own stock portfolio.

What makes this the best financial statement analysis course out there?

Knowledgeable instructor: I have a Bachelor’s degree in accounting and finance. I have years of equity research experience where I have provided detailed financial statement analysis services to many blue chip hedge funds.

Complete training: This course contains the main topics you will need to be a successful financial analyst and analyze financials. Unlike most courses, our training will include a walk-through of how to read SEC filings and what information to look out for.

Real world examples: The course contains many real world case studies. Everything you learn will be applicable RIGHT AWAY towards you career or investing goals.

Excellent support: If you don’t understand a concept or simply want to ask a question, you’ll receive an answer as soon as possible.

Industry tricks and tips: You will learn many of the industry’s best tricks and tips to be successful. Some of these strategies are not well known to even veterans. You will find strategies to get an informational edge over other investors.

Don’t forget, this course comes with Udemy’s 30-day unconditional money-back full guarantee! If you don’t learn anything from the course, return it and get your money back.

Who this course is for:

People who want a successful career (or get ahead) in investing, finance, or accounting.
Business professionals who want to enrich their knowledge of finance and financial analysis.
Beginning investors who want to manage their own portfolio of stocks.
Aspiring students who want to major in finance or enter the field.
Aspiring financial analysts, investor relation managers, private equity analysts, investment bankers, traders, hedge fund analysts, and sell side equity research analysts.

The Complete Financial Statement Analysis Course

What you'll learn

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Course content

Course Introduction1 lecture • 2min

Financial Statement Overview3 lectures • 22min

Ratio Analysis10 lectures • 42min

How To Read Key SEC Filings14 lectures • 1hr 14min

Analysis of Quarterly Results And KPIs5 lectures • 20min

BONUS Lectures4 lectures • 23min

Requirements

Description

Who this course is for: